Category Archives: Economics on the left

Distributing incomes to match what each of us deserves

I received a very kind note from someone I had spoken with at the Historians of Economics conference the other day which I had discussed here. She sent me two articles, one from the economist Greg Mankiw, and the other … Continue reading

Posted in Classical Economics, Economics on the left, Philosophy | 1 Comment

Classical inflation

Being a classical economist myself, I understand what the classicals meant when they said that public sector deficits lead to inflation. They meant that if a government ran a deficit, they would eventually be forced to inflate the money supply. … Continue reading

Posted in Classical Economics, Economics and economy, Economics on the left | 19 Comments

If they can bring on a recession to sink Donald Trump they will

Let me start with this sage piece of advice from Henry in the previous post: No sensible purpose is served by the facile criticism of the administration that increasingly pervades the Australian media, and the equally facile ­questioning of the … Continue reading

Posted in Economics on the left | 60 Comments

You cannot trust a party of the left with the management of an economy

From New Data Shows Absolute Economic Destruction During Obama Years. And these figures are not from some ratbag bunch of observers. This is where they are from: The Federal Reserve Bank of St Louis just released this single snapshot of economic performance … Continue reading

Posted in Economics and economy, Economics on the left | 16 Comments

Soak the poor

The astonishing part about modern macroeconomics is how those whose wealth is most comprehensively plundered through public spending and crony capitalism are the ones who are told that everything is being done on their behalf. Governments spend trillions hiring their … Continue reading

Posted in Cultural Issues, Economics on the left | 6 Comments

Government to be subsidising Porsches

Here I was thinking that I has bought my last car and wouldn’t be in the market for another car. But no. Bill Shorten is promising to subsidise Australians into luxury cars. “How long does it take to charge it … Continue reading

Posted in 2019 election, Economics on the left, Politics of the Left, Taking out the trash | 78 Comments

Is the Venezuelan economy suffering from a deficiency of demand?

The Venezuelan economy is in a mess. Everyone knows it; no one denies it. There has been a catastrophic fall in real incomes and wealth. Why? Is it because everyone has decided to save rather than spend? Is it because … Continue reading

Posted in Economics and economy, Economics on the left | 15 Comments

These socialist loons are completely mainstream

Start with this, from the New York Times: Modern Monetary Theory Makes Sense, Up to a Point. It begins: The term “modern monetary theory” has been talked about so much lately that we mainstream economists need to try to understand … Continue reading

Posted in American politics, Economics on the left | 17 Comments

Daniel Andrews vs electricity consumers.

Daniel Andrews closed Hazelwood power station by racking up the royalty on coal. Result, soaring electricity prices. Socialism working to impoverish the people just like it does in Venezuela. Except the big winners here are the crony capitalists rather than … Continue reading

Posted in Economics on the left, Global warming and climate change policy, Rafe | 8 Comments

New York waiters know economics better than leftwing celebrities

But how hard is that? Dan Mitchell reports that waiters in New York have rubbished a high-profile push by female showbiz celebs to raise the minimum wage. (Using waiters in a gender neutral sense like pilots and captains. Who needs … Continue reading

Posted in Economics on the left, Rafe | 14 Comments